Armenian parliament rejects amendments to Tax Code

The National Assembly on Friday narrowly rejected an opposition-tabled bill proposing amendments to the Tax Code.

After the debate that followed the first reading, 35 lawmakers voted “for” and 38 voted “against” the measure initiated by the opposition faction Yelk.

Vardan Bostanjyan of the opposition Tsarukyan alliance voiced his strong arguments to the effective legislation (that entered into effect on January 1), citing the heavy taxes on diesel fuel as a major contributing factor to the market hike.

The parliamentary opposition claimed that their legal initiative, if approved, would essentially relieve the tax burden for energy carriers, sustaining the prices also on the consumer market.

The authors of the bill also proposed that the profit taxes deduced from the salaries of physical entities receiving monthly 150,000-450,000 Armenian Drams ($310-$935) be returned to them until the effective date of the legislation.